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Side-by-side financial comparison of Armada Hoffler Properties, Inc. (AHH) and Purple Innovation, Inc. (PRPL). Click either name above to swap in a different company.
Purple Innovation, Inc. is the larger business by last-quarter revenue ($140.7M vs $75.6M, roughly 1.9× Armada Hoffler Properties, Inc.). Armada Hoffler Properties, Inc. runs the higher net margin — 3.1% vs -2.3%, a 5.4% gap on every dollar of revenue. On growth, Purple Innovation, Inc. posted the faster year-over-year revenue change (9.1% vs 0.8%). Over the past eight quarters, Purple Innovation, Inc.'s revenue compounded faster (8.3% CAGR vs -22.8%).
Armada Hoffler Properties, Inc. is a publicly traded U.S. real estate investment trust operating across the Mid-Atlantic and Southeast regions. It develops, owns, and manages a diversified portfolio of office, retail, and multifamily residential properties, and also offers construction and development services for third-party clients.
Purple Carrot is a Needham, Massachusetts-based, and 100% plant-based meal kit company. Founded by Andy Levitt, it offers both prepared meals as well as meal kits to subscribers weekly. As stated in a 2022 article in Cosmopolitan, “each Purple Carrot meal kit results in 72% less carbon being released into the atmosphere as compared to the standard American meal.”
AHH vs PRPL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $75.6M | $140.7M |
| Net Profit | $2.4M | $-3.2M |
| Gross Margin | — | 41.9% |
| Operating Margin | 31.0% | -1.6% |
| Net Margin | 3.1% | -2.3% |
| Revenue YoY | 0.8% | 9.1% |
| Net Profit YoY | -89.8% | 62.1% |
| EPS (diluted) | $0.00 | $0.03 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $75.6M | $140.7M | ||
| Q3 25 | $72.7M | $118.8M | ||
| Q2 25 | $69.1M | $105.1M | ||
| Q1 25 | $67.8M | $104.2M | ||
| Q4 24 | $75.0M | $129.0M | ||
| Q3 24 | $114.4M | $118.6M | ||
| Q2 24 | $116.8M | $120.3M | ||
| Q1 24 | $127.0M | $120.0M |
| Q4 25 | $2.4M | $-3.2M | ||
| Q3 25 | $80.0K | $-11.7M | ||
| Q2 25 | $5.9M | $-17.3M | ||
| Q1 25 | $-2.8M | $-19.1M | ||
| Q4 24 | $23.4M | $-8.5M | ||
| Q3 24 | $-5.0M | $-39.2M | ||
| Q2 24 | $3.2M | $27.0K | ||
| Q1 24 | $14.1M | $-50.2M |
| Q4 25 | — | 41.9% | ||
| Q3 25 | — | 42.8% | ||
| Q2 25 | — | 35.9% | ||
| Q1 25 | — | 39.4% | ||
| Q4 24 | — | 42.9% | ||
| Q3 24 | 45.0% | 29.7% | ||
| Q2 24 | 41.8% | 40.7% | ||
| Q1 24 | 37.9% | 34.8% |
| Q4 25 | 31.0% | -1.6% | ||
| Q3 25 | 29.2% | -10.2% | ||
| Q2 25 | 29.6% | -13.5% | ||
| Q1 25 | 23.2% | -13.9% | ||
| Q4 24 | 50.1% | -6.0% | ||
| Q3 24 | 19.0% | -39.5% | ||
| Q2 24 | 11.9% | -12.1% | ||
| Q1 24 | 15.1% | -19.3% |
| Q4 25 | 3.1% | -2.3% | ||
| Q3 25 | 0.1% | -9.9% | ||
| Q2 25 | 8.6% | -16.5% | ||
| Q1 25 | -4.1% | -18.4% | ||
| Q4 24 | 31.2% | -6.6% | ||
| Q3 24 | -4.4% | -33.1% | ||
| Q2 24 | 2.7% | 0.0% | ||
| Q1 24 | 11.1% | -41.8% |
| Q4 25 | $0.00 | $0.03 | ||
| Q3 25 | $-0.04 | $0.11 | ||
| Q2 25 | $0.04 | $0.16 | ||
| Q1 25 | $-0.07 | $0.18 | ||
| Q4 24 | $0.28 | $0.08 | ||
| Q3 24 | $-0.11 | $0.36 | ||
| Q2 24 | $0.00 | $0.00 | ||
| Q1 24 | $0.17 | $0.47 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $49.1M | $24.3M |
| Total DebtLower is stronger | $1.5B | $126.7M |
| Stockholders' EquityBook value | $627.8M | $-29.7M |
| Total Assets | $2.6B | $296.3M |
| Debt / EquityLower = less leverage | 2.43× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $49.1M | $24.3M | ||
| Q3 25 | $46.5M | $32.4M | ||
| Q2 25 | $52.1M | $34.2M | ||
| Q1 25 | $45.7M | $21.6M | ||
| Q4 24 | $31.9M | $29.0M | ||
| Q3 24 | $43.9M | $23.4M | ||
| Q2 24 | $20.3M | $23.4M | ||
| Q1 24 | $41.9M | $34.5M |
| Q4 25 | $1.5B | $126.7M | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | $1.3B | $70.7M | ||
| Q3 24 | $1.3B | $50.8M | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.4B | — |
| Q4 25 | $627.8M | $-29.7M | ||
| Q3 25 | $638.8M | $-26.9M | ||
| Q2 25 | $652.0M | $-15.6M | ||
| Q1 25 | $657.4M | $1.3M | ||
| Q4 24 | $670.6M | $20.2M | ||
| Q3 24 | $663.9M | $28.0M | ||
| Q2 24 | $562.7M | $66.4M | ||
| Q1 24 | $571.4M | $65.5M |
| Q4 25 | $2.6B | $296.3M | ||
| Q3 25 | $2.6B | $302.1M | ||
| Q2 25 | $2.6B | $303.8M | ||
| Q1 25 | $2.5B | $293.8M | ||
| Q4 24 | $2.5B | $307.8M | ||
| Q3 24 | $2.6B | $309.3M | ||
| Q2 24 | $2.6B | $362.1M | ||
| Q1 24 | $2.6B | $382.1M |
| Q4 25 | 2.43× | — | ||
| Q3 25 | 2.33× | — | ||
| Q2 25 | 2.22× | — | ||
| Q1 25 | 2.01× | — | ||
| Q4 24 | 1.93× | 3.50× | ||
| Q3 24 | 2.00× | 1.82× | ||
| Q2 24 | 2.52× | — | ||
| Q1 24 | 2.50× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $64.2M | $-5.8M |
| Free Cash FlowOCF − Capex | — | $-7.8M |
| FCF MarginFCF / Revenue | — | -5.5% |
| Capex IntensityCapex / Revenue | — | 1.4% |
| Cash ConversionOCF / Net Profit | 26.99× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-41.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $64.2M | $-5.8M | ||
| Q3 25 | $26.3M | $-968.0K | ||
| Q2 25 | $11.1M | $-4.0M | ||
| Q1 25 | $107.0K | $-23.1M | ||
| Q4 24 | $112.0M | $6.8M | ||
| Q3 24 | $27.3M | $1.1M | ||
| Q2 24 | $17.4M | $-8.9M | ||
| Q1 24 | $46.5M | $-16.8M |
| Q4 25 | — | $-7.8M | ||
| Q3 25 | — | $-1.8M | ||
| Q2 25 | — | $-7.0M | ||
| Q1 25 | — | $-25.3M | ||
| Q4 24 | — | $5.7M | ||
| Q3 24 | — | $101.0K | ||
| Q2 24 | — | $-11.0M | ||
| Q1 24 | — | $-19.9M |
| Q4 25 | — | -5.5% | ||
| Q3 25 | — | -1.5% | ||
| Q2 25 | — | -6.6% | ||
| Q1 25 | — | -24.3% | ||
| Q4 24 | — | 4.4% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | -9.2% | ||
| Q1 24 | — | -16.5% |
| Q4 25 | — | 1.4% | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | — | 2.8% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | — | 0.8% | ||
| Q3 24 | — | 0.9% | ||
| Q2 24 | — | 1.7% | ||
| Q1 24 | — | 2.5% |
| Q4 25 | 26.99× | — | ||
| Q3 25 | 328.63× | — | ||
| Q2 25 | 1.87× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 4.78× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 5.48× | -330.22× | ||
| Q1 24 | 3.30× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AHH
| Office Real Estate Segment | $28.8M | 38% |
| Retail Real Estate Segment | $25.4M | 34% |
| Multifamily Residential Real Estate | $17.7M | 23% |
| Real Estate Financing Segment | $3.6M | 5% |
PRPL
| Cost Of Revenues | $81.7M | 58% |
| Other | $59.0M | 42% |
